FILE – In this March 24, 2013, file photo, Minnesota Timberwolves’ Nikola Pekovic, left, of Montenegro, drives against Chicago Bulls’ Nazr Mohammed during an NBA basketball game in Minneapolis. After weeks of negotiations, waiting and watching, Pekovic and the Timberwolves came to agreement on Wednesday, Aug. 14, 2013, on a new five-year contract worth $60 million that includes an additional $8 million in incentives. (AP Photo/Jim Mone, File)

The Minnesota Timberwolves lost money last season, owner Glen Taylor said Thursday, but he expects the team to make money this season. That’s despite the $60 million signing of Nikola Pekovic this week.

“We think if we play well this year, we’ll get past that hump and make money,” Taylor said.

Pekovic’s deal is for five years. The 6-foot-11, 289-pound center can earn another $4 million in performance bonuses over the duration of the contract, but he’ll have to be among the best at his position in the NBA.

“They are not gimmes,” Taylor said of the incentives.

Taylor said the Wolves still have enough money to extend the contract of point guard Ricky Rubio when the time comes.

“We had to make sure we had enough for him,” Taylor said.

Kevin Love can opt out of his $62 million contract after the 2014-15 season.

“Every indication is that Kevin’s happy,” Taylor said. “He wanted us to sign Pek — that was important to him. Kevin wants to win, too, get into the finals, too. We’re doing all those things, so my sense is that there’s no reason for him to want to play for some other teams.”

The Wolves’ initial offer to Pekovic was $48 million for four years, all guaranteed. Pekovic’s agent countered with $60 million for four years, all guaranteed. When Pekovic’s representation demanded more, the Wolves countered with a fifth year, plus the $4 million in incentives.

“We thought that was a fair but generous offer to keep a very important player for us,” Taylor said.

Pekovic, 27, was paid $4.6 million last season, when he averaged 16.3 points and 8.8 rebounds.

“It’s a big contract — some people will look at it and say it’s awful big,” Taylor said. “But there probably are a limited number of true centers in the league, and because of that, it’s important when you get into the playoffs that you have several big guys on your team that can play well.

“Good centers are compensated on the market higher than a lot of other players, unless you’re a star player. You know, it’s just what the market is. We recognize that. If you look around the league, at the people who play that position, they are generously compensated.”

“You have to be (market) competitive,” Taylor said. “We think Pek is not the top center in the league, but he’s young enough that there’s no reason he can’t perform at a very high level.”

Pekovic was to come to Minneapolis on Thursday from Europe for a physical.

Gophers men’s basketball season tickets have had a 92 percent renewal, and since the hiring of Richard Pitino as coach in April, 255 new season tickets have been sold.

For Gophers’ football, season ticket renewal has been slightly higher than 92 percent, with 1,650 new season tickets sold.

Free agent Cole Aldrich, the 6-11 former Bloomington Jefferson star who finished the season with the Sacramento Kings, on Thursday worked out for the Pistons in Detroit and on Monday worked out for the Kings in Sacramento.

When ex-Twin Delmon Young, 27, refused a demotion to the minor leagues, the Philadelphia Phillies released him.

Rookie Andrew Albers has thrown 17 1/3 shutout innings in his first two starts for the Twins with anything but an overpowering fastball.

Since July 26, the Twins lead the major leagues in home runs with 27. Next is Baltimore (24), followed by Detroit and Toronto with 23 each.

Eight of the Twins’ 26 homers have been at Target Field.

“I wish I knew why,” Twins hitting coach Tom Brunansky said of the recent power, adding that there’s been no new swing strategies.

“We still go through our routines,” he said. “We are getting some good swings, and in summertime the ball flies a little better. And, all of a sudden you get a little confidence, and you go up there and don’t think about it.

“Earlier in the season here (Target Field), the weather and the ballpark plays on hitters’ minds. Then they get caught behind, and they see everybody else hitting them early in the season and they press. They’re at a point now, I think, at this time of the season, they’re not thinking much about it and just going up and swinging the bat.”

Brunansky hit 271 homers during a 14-year major league career.

OVERHEARD

Timberwolves’ owner Glen Tayloron adding a fifth year at $12 million guaranteed to center Nikola Pekovic‘s new $60 million contract: “He’s young enough (27), so we probably should be all right.”

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